Statoil becomes @EquinorASA as Norwegian oil & gas group and offshore wind player adopts new name:

Statoil became Equinor on Tuesday as shareholders of the Norwegian oil & gas giant approved a name change designed to reflect its growing role in the energy transition. The name change was first announced in March, when chief executive Eldar Sætre said Equinor “captures our heritage and values, and what we aim to be in the future”. Equinor has emerged over the last few years as a significant player in the global offshore wind sector, developing fixed-bottom projects off the UK and pioneering the Hywind floating turbine technology. The Norwegian group expects to invest 15-20% of its total Capex in renewables by 2020. However, Equinor – which has the Norwegian government as its majority shareholder – will remain at core a fossil-led business. A proposal from one shareholder that the board should present a “ strategy for business transformation” to renewables was not adopted ...